The median salary for an MBA graduate is $10,000 higher than for other master’s degrees.
MBA graduates can expect a median starting salary of around $115,000 when they complete the program. However, the average salary for people two years after completing an MBA is even higher at around $135,000 to $145,000.
This highlights the clear financial benefits of investing in lifelong learning. While the MBA is incredibly popular, there are other qualifications and certifications that you can invest in. There are hundreds to choose from, allowing you to find the perfect course for your individual career.
Interested in learning more about lifelong learning? Read on for a complete education guide on the importance of lifelong learning and a few of the best courses you can choose from.
Lifelong learning is the continuous pursuit of knowledge and skills that can help you both professionally and personally. This kind of personal development can be self-initiated or sponsored by your employer.
Many employers around the world love investing in lifelong learning as it helps improve motivation and productivity. The cost of investing in lifelong learning can also be written off, making it a win-win situation for businesses.
Lifelong learning goes above traditional learning as it’s designed for people already within the workplace. In simple terms, lifelong learning is there to help build on the skills and experience that you already have. This can help you become a better employee but can also give you the tools you need to advance in your career.
The Benefits of Lifelong Learning
There are a ton of personal and professional benefits that come with lifelong learning. These benefits can range depending on what career field you’re in. Read on for a brief overview of the benefits of investing in lifelong learning.
1. Improve Job Security
The modern economy and job market evolve every day. Businesses and corporations tend to bring in new people to introduce new skills to the company. This is why investing in lifelong learning is so great as it allows you to bring new skills to the company without being replaced.
Professionals with added qualifications and new certifications show that they’re continuously getting better and can contribute more to the company. This is why businesses will do everything they can to keep them instead of replacing them.
2. Widening Career Opportunities
When you invest in lifelong learning, you’re investing in yourself. This enhances your resume and allows you to gain access to further your career. This could be by getting more job opportunities or by advancing to a higher-paying position within your company.
Master’s degrees and professional certifications are the best options for advancing in your career. This is because these qualifications can help you move up to management positions within your company.
3. Increase Motivation and Productivity
When you sharpen your skills, you’ll also notice a massive boost in motivation. This is important to help you improve productivity at work. Improved productivity can help increase your value at work, making you indispensable to the company.
4. Strengthening Skills
Continuous education is designed to help equip you with the latest skills and knowledge. This is important for individuals that may have completed their qualifications a while ago. Lifelong learning helps give you the skills you need to stay relevant in the modern workplace.
5. Improve Cognitive Health
Studies have proven that lifelong learning is the best way to help improve the health and function of your brain. This is because you’re consistently challenging yourself and building a stronger memory in the process. This reduces your risk of dementia and improves your cognitive skills.
6. Boost Self-Confidence
Lifelong learning is a great way to build confidence in yourself in your specific career. By improving your skills, you can unlock even more knowledge and experience. This lets you bring more to the table every time.
7. Networking Opportunities
When you invest in lifelong learning, you’re investing in yourself and your personal network. This is because you will be studying or attending classes with people that are also in your career field. You can learn from the experiences of others, but also leave the course with a wider network.
Why Companies Should Invest in Corporate Learning
As mentioned above, employers love investing in lifelong learning for their employees. This is because lifelong learning can help empower employees with the latest skills and knowledge. Employers benefit from having more productive, motivated employees.
Additionally, the cost of investing in lifelong learning is completely tax deductible. This means that it’s actually more affordable for employers to pay for your course. Once you complete the course, you will be more valuable to the business.
Finding The Right Course
When it comes to finding the right course, there are a few things that you should always keep in mind. These factors will help you find the best course that you can take for your career. The most important factors are the career you’re in and your individual career ambitions.
If you’re in the corporate industry as an accountant or business consultant, professional certifications can help you advance in that space. Becoming a chartered accountant or a certified project manager are great ways to elevate your career to management status. This tends to come with a decent pay rise as well.
Industries that are more technical can benefit from master’s degrees or even doctoral degrees. This is because those academic courses equip you with the latest knowledge and skills within that field. You can also specialize in a particular area so that you can leave an expert in your field.
The Best Courses To Consider
When it comes to lifelong learning, there are thousands of options available. These options range from postgraduate certificates to doctoral degrees that can help you land a higher-paying job. Here’s a quick look at the best courses to consider for your career.
1. Postgraduate Certificates
Most people stop studying after they obtain their degree. While this is typically enough to land a stable job, there are limitations that arise. This is because postgraduate certificates can help give you a competitive edge within the job market.
These certificates range depending on your individual career. However, these qualifications are incredibly popular within the business industry. Post Graduate Certificates in Business, Accounting, and Project Management are very popular options.
2. Professional Certifications
Professional certifications are different from postgraduate certificates. These certifications are usually under the authority of academic boards rather than universities. This helps maintain a high standard that people from around the world can acknowledge.
Some of these certifications are necessary to obtain a specific title. This is particularly common for accountants as they need to obtain a certification to be called chartered accountants. While for many people this is just a title, it comes with a major salary increase that makes it worthwhile.
3. Master of Business Administration
MBA degrees are the most popular qualifications for business professionals around the world. This is because it’s the best way to prepare yourself for higher positions in your career. UHV’s MBA in Accounting is a great example of this as it provides you will all the skills you need to advance to managerial positions within your company.
4. Master’s Degree
Master’s degrees are a great way to update your skills and advance in your career. Almost every field offers a master’s degree, allowing you to specialize in a way that would not be possible in a normal three-year degree.
This is because normal degrees are far more generalized so that you can get a good grasp of the entire industry. Master’s degrees are more focused so that you can develop and align your career in a very specific way.
5. Doctoral Degree
Doctoral degrees are at the top of the academic ladder. These degrees include unique research that can help contribute to the field in general. This kind of degree is perfect for those looking for a career in academia or wanting to become an authority in the space.
Invest in Updating Your Skills
Lifelong learning is a great tool that you can use to sharpen your skills. There is a wide range of courses designed to help people of all skill levels. Whether you’re thinking to get a postgraduate education or a professional certification, lifelong learning can help you advance in your career.
The MBA is the most popular course for corporates trying to make the move to management positions. However, it’s important to find the right course for your personal career ambitions. If you’re unsure, don’t hesitate to reach out to a career advisor for guidance.